The Sole Proprietorship The cheapest business No corporate income taxes,but individual income taxes Unlimited liability -The life of sole proprietorship is limited The equity money is limited to the proprietor's personal wealth slide 7slide 7 The Sole Proprietorship The Sole Proprietorship ƒ The cheapest business ƒ No corporate income taxes, but individual income taxes ƒ Unlimited liability ƒ The life of sole proprietorship is limited ƒ The equity money is limited to the proprietor’s personal wealth